Funding news from Ukraine: Aventures backs startup Augmented Pixels

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It is interesting to see how different CEE countries produce startups in more or less similar area. If you take Baltic Rim, you will see TransferGo from Lithuania offering similar currency exchange services as TransferWise from Estonia, or CGTrader of Lithuania is going after a business of Estonian GrabCad by creating a marketplace for 3D artists and engineers.

In Czech Republic it is all about antivirus and security, once AVG has gone public and became a global success story, and Cognitive Security gets sold to Cisco.

In Ukraine, we see that it is Augmented Reality field that gets support from investors, after Ukrainian startup Viewdle was sold to Motorola. Last week we wrote about A-Reality getting seed funding, and today our news is from the company which is called Augmented Pixels, which raised Series A funding from a new Ukrainian venture fund AVentures, a $30 million early stage fund managed by Yevgen Sysoyev and Andrey Kolodyuk.

Augmented Pixels is a mobile development studio with a focus on augmented reality applications. The company has a number of apps in its portfolio which it plans to promote with the received funding. The current portfolio includes apps such as AR panoramas in 3D, AR browser, AR Bug hunting game called Bugs Mayhem, which was commended by Augmented Planet, and others. Additionally the company plans to develop new applications, which it does not disclose yet.

Augmented Pixels have been around since 2010 and claims to have the most advanced optimization algorithms for AR and 3D visualization of objects on mobile devices. It is cash positive, as it client base includes advertisement agencies, gaming companies as well as end users of its B2C applications.

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Natasha Starkell

TwitterLinkedInFacebook Google+ Natasha Starkell is the founder and CEO of GoalEurope, advisory firm focusing on technology investment and software development in Russia and Eastern Europe. Prior to starting GoalEurope she has worked in the field of finance, mergers and acquisitions, corporate strategy and offshore outsourcing at Unisys Corporation in Switzerland and United Kingdom. She has an MBA degree from London Business School. She speaks Russian, English and German. She lives in Northern Germany.